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a. False. The long run potential growth rate always depends on low rates of inflation. b. True, but only sometimes. At very high rates of inflation, long run potential growth rate declines. C. False. When expected inflation is different from actual inflation, the potential growth rat suffers. d. True. The long run potential growth rate is determined by the factors of production, not prices.

a. False. The long run potential growth rate always depends on low rates of inflation. b. True, but only sometimes. At very high rates of inflation, long run potential growth rate declines. C. False. When expected inflation is different from actual inflation, the potential growth rat suffers. d. True. The long run potential growth rate is determined by the factors of production, not prices.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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True or false? Regardless of the inflation rate, a country has a set potential growth rate in the long run. a. False. The long run potential growth rate always depends on low rates of inflation. b. True, but only sometimes. At very high rates of inflation, long run potential growth rate declines. C. False. When expected inflation is different from actual inflation, the potential growth rate suffers. d. True. The long run potential growth rate is determined by the factors of production, not prices.
Transcribed Image Text:True or false? Regardless of the inflation rate, a country has a set potential growth rate in the long run. a. False. The long run potential growth rate always depends on low rates of inflation. b. True, but only sometimes. At very high rates of inflation, long run potential growth rate declines. C. False. When expected inflation is different from actual inflation, the potential growth rate suffers. d. True. The long run potential growth rate is determined by the factors of production, not prices.
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